EPLUS INC — Director's Dealing 2010

Mar 2, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EPLUS INC (PLUS)
CIK: 0001022408
Period of Report: 2010-02-26

Reporting Person: MENCARINI STEVEN J (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-02-26	Common Stock	M	5000	$7.75	Acquired	5000	Direct
2010-02-26	Common Stock	S	5000	$16.38	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-02-26	Employee Stock Option(Right to Buy)	$7.75	M	5000	Disposed	2010-12-27	Common Stock (5000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (Right to buy)	$17.38	2010-09-13	Common Stock (10000)	10000	Direct

Footnotes

F1: The transaction was executed in multiple trades at prices ranging from $16.31 to $16.45 per share, inclusive. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide upon request by the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares purchased and prices at which the transaction was effected.

F2: The options were granted on December 27, 2000 with a 3-year vesting schedule: 20% of shares vested at the end of the first year; 30% of shares vested at the end of the second year; and 50% of shares vested at the end of the third year.

F3: The options were granted on September 13, 2000 with a 3-year vesting schedule: 20% of shares vested at the end of the first year; 30% of shares vested at the end of the second year; and 50% of shares vested at the end of the third year.